本益成长比（Price/Earnings to Growth Ratio，PEG），又称动态股价收益比，最早是由英国投资大师吉姆·史莱特（Jim Slater）提出，经由美国证券投资家彼得·林奇（Peter Lynch）发扬彰显，史莱特因而被称为PEG选股法的创始人。PEG指标最先应用于英国证券市场，然当时英国证券市场的影响力较小，该指标并未引起国际间较大的关注。1992年，史莱特的著作《祖鲁法则》（The Zule Principle）出版，始将PEG应用在投资和选股的方法推广到美国。而后，在美国投资大师彼得·林奇的用心推广下，终于获得世人的看重，后人甚至将PEG方法的功绩归功于彼得·林奇。

The PEG ratio (price/earnings to growth ratio) is a valuation metric for determining the relative trade-off between the price of a stock, the earnings generated per share (EPS), and the company's expected growth.

In general, the P/E ratio is higher for a company with a higher growth rate. Thus using just the P/E ratio would make high-growth companies appear overvalued relative to others. It is assumed that by dividing the P/E ratio by the earnings growth rate, the resulting ratio is better for comparing companies with different growth rates.